The pair closed a holiday thinned session Friday at $1.5558, close to where the rate ended Christmas eve(Dec24), with rate marked up to $1.5572 in opening trade Monday. Tokyo demand for dollar-yen acted to weigh back on cable and eased rate to session lows of $1.5550 before demand emerged to cushion the move with rate then able to recover through the balance of the session, as dollar-yen moved sharply lower, to a high of $1.5585. Rate was trading back at $1.5573 into early Europe. London returns after its Christmas break though with New Year celebrations Thursday trading rooms expected to be working with reduced staff levels which should keep markets thin and open to order driven volatility. A light data calendar across the board for today could make for subdued conditions. Resistance remains at $1.5585, a break to open a move toward $1.5600/10. A break here to open a move toward $1.5620/25. Support $1.5550 ahead of $1.5525/20, $1.5500 and $1.5486 (2014 low, Dec23). Euro-sterling was contained in Asia by stg0.7827/30.
